Stock Market Today: The benchmark Nifty-50 index ended 0.3% lower at 24,649.55 on Tuesday as concerns about the tariff threat prevailed. The Bank Nifty at 55,360.2 also ended 0.5% lower, while Pharma, FMCG, and IT led the fall for most indices with the exception of auto and consumer durables. The mid- and small-caps also lost 0.16-0.39%
Trade Setup for Wednesday
For Nifty, the recent swing low of 24,535 is expected to serve as immediate support. On the upside, 24,785 and 24,950 are two key hurdles, as per Nandish Shah – Deputy Vice President, HDFC Securities.
For Bank Nifty, support lies at ₹55000 – 54800, while it faces Resistance in the ₹55700 – 56000 zone, as per Rajesh Bhosale, Equity Technical Analyst, Angel One.
Global markets today and Q1 Results
The market is is expected to remain range-bound, with focus on RBI’s monetary policy decision (due on Wednesday), where a status quo is anticipated on the rates. Meanwhile, stock/sector-specific movements would continue on the back of ongoing Q1 earnings announcements, said Siddhartha Khemka – Head Of Research, Wealth Management, Motilal Oswal Financial Services Ltd
Key results scheduled for 6th Aug’25 include Bajaj Auto, Hero Motocorp, Trent, Divis Labs, and others.
Stocks to buy today
Regarding stocks to buy today, market experts—Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi; and Shiju Koothupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher—recommended these eight intraday stocks for today: Jindal Steel & Power Ltd., Eicher Motors Ltd., Canara Bank, Lodha Developers Ltd., Mazagon Dock Shipbuilders Ltd., Sharda Cropchem Ltd, Apollo Micro Systems Ltd and CG Power and Industrial Solutions Ltd
Sumeet Bagadia’s stock picks
- Jindal Steel & Power Ltd-Bagadia recommends buying JINDALSTEL at around ₹999.8, keeping Stoploss at ₹964 for a target price of ₹1070
JINDALSTEL is currently trading around ₹999.80, showing a strong recovery from recent lows and indicating a potential reversal in trend. The stock is on the verge of breaking its recent lower-high structure, backed by a notable increase in trading volumes, which highlights growing market participation and renewed buying interest.
2. Eicher Motors Ltd—Bagadia recommends buying EICHERMOT at around ₹5681, keeping stop loss at ₹5482 for a target price of ₹6078
EICHERMOT is currently trading at ₹5,681 and exhibiting strong bullish momentum, supported by a rising price structure. On the daily chart, the stock is on the verge of breaking out from a symmetrical triangle pattern. A decisive close above the key resistance level of ₹5,770 would confirm the breakout and signal the continuation of the prevailing uptrend
Ganesh Dongre’s stocks to buy today
3. Mazagon Dock Shipbuilders Ltd—Dongre recommends buying MAZDOCK at around ₹2848, keeping Stoploss at ₹2780 for a target price of ₹2940
Stock has been exhibiting a strong and consistent bullish pattern, indicating sustained investor interest and positive price momentum. The stock is currently trading at ₹ 2848 and has established a solid support base at ₹ 2780. This level has historically acted as a cushion, and the recent price action suggests a reversal from this support, reinforcing bullish sentiment. The technical setup points to the potential for a price retracement toward the ₹2940 level in the near term. Given the renewed strength and the favorable risk-reward ratio, entering at the current market price with a stop-loss placed at ₹ 2780 offers a strategic opportunity to capture the expected upside move. The outlook remains positive as long as the stock holds above its key support zone
4. Lodha Developers Ltd-Dongre recommends buying LODHA at around ₹1234, keeping Stoploss at ₹1200 for a target of ₹1300
Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 1234 and maintaining strong support at ₹ 1200. The technical setup indicates the potential for a price retracement towards the ₹ 1300 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹ 1200 offers a prudent approach to capturing the anticipated upside.
5. Canara Bank-Dongre recommends buying CANBK at around ₹108, keeping stop loss at ₹103 for a target price of ₹115
Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 108 and maintaining strong support at ₹ 103. The technical setup indicates the potential for a price retracement towards the ₹ 115 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹ 103 offers a prudent approach to capturing the anticipated upside.
Shiju Koothupalakkal intraday stocks for today
6. Apollo Micro Systems Ltd-Koothupalakkal recommends buying APOLLO MICRO SYSTEMS at around ₹178.80 for a target price of ₹192, keeping stop loss ₹174
The stock, after witnessing a steady slide, has corrected quite significantly, showing signs of taking support near the ₹165 zone, and has indicated a pullback moving past the important 50EMA zone at the ₹176 level to improve the bias, and we can expect a further rise in the coming sessions. The RSI has corrected well from the overbought zone and is currently well positioned with an indication of a trend reversal to signal a buy. With the chart technically looking good, we suggest buying the stock.
7. CG Power and Industrial Solutions Ltd – Koothupalakkal recommends buying CG POWER at around ₹680 for a target of ₹720 keeping Stop loss at ₹665
The stock has indicated a positive bullish candle moving past the confluence of the 200-period MA and 50 EMA level at the ₹670 zone, accompanied by decent volume participation to improve the bias, and further rise is anticipated. The RSI is currently well placed and has shot up, indicating a buy signal with much upside potential visible. With the chart technically looking good, we suggest buying the stock for an upside target of ₹720 .
8. Sharda Cropchem Ltd-Koothupalakkal recommends buying SHARDA CROP at around ₹1130 for a target price of ₹1180. keeping Stop loss at ₹1105
The stock has recently witnessed a sharp and steep spurt with the trend maintained strong, and after a consolidation period has indicated a flag pattern on the daily chart with current indications of a further rise anticipated with volume participation building up and a spurt in the price action visible in the final hours of trade. With the chart technically looking good, we suggest buying the stock for an upside target of ₹1180, keeping the stop loss at the ₹1105 level.
Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
